Global Monthly Economic Review

The BCC Global Monthly Economic Review is intended to be an easy-to-use commentary on key global economic indicators relevant to UK businesses, as well as providing a regular update on the UK’s trade position in comparison to its key trading partners.

March 2015

This month's headlines:

  • UK trade deficit narrows in January as spending on fuel imports falls with oil prices
  • Chinese government lowers growth target and Australia grows at its slowest pace in final quarter of 2014
  • US inflation remains negative, Japan on the brink of deflation, while Brazil’s inflation hits a 12-year high

Read the full Global Economic Review for March here.


February 2015

This month's headlines:

  • Eurozone economy achieves better than expected growth in Q4 primarily thanks to growth in Germany
  • Deflation and unemployment remain key risks to eurozone economic growth
  • Swedish Central bank joins array of central banks that have cut interest rates hoping to boost growth

Read the full Global Economic Review for February here.


January 2015

This month's headlines:

  • IMF lowers global growth forecast due to weaker prospects in China, Russia, EU and Japan
  • UK forecast unchanged, while US is the only major economy to have growth upgraded
  • Deep underlying problems with the economic recovery outweigh the boost from cheaper oil

Read the full Global Economic Review for January here.


December 2014

This month's headlines:

  • UK trade deficit continues to widen
  • China risks missing growth target and Russia tethers on the brink of a recession
  • EU and US inflation drops as oil prices continue to decline

Read the full Global Economic Review for December here.


November 2014

This month's headlines:

  • Slowdown in Germany, weak recovery in France and a triple-dip recession in Italy weighs on EU growth
  • China, Japan and Thailand show further signs of weakness
  • Weak demand and US shale gas boom indicates recent falls in oil prices are not over

Read the full Global Economic Review for November here.


October 2014

This month's headlines:

  • IMF lowers global growth forecast as it sees risk of the eurozone re-entering recession for a third time
  • Weaker growth prospects for Brazil, Russia and Japan while India shows some glimmer of hope
  • Oil prices fall again amid worries about global growth outlook

Read the full Global Economic Review for October here.


September 2014

This month's headlines:

  • OECD lowers global growth forecast, Italy suffers largest downgrade and Germany's contraction confirmed
  • Latest economy data suggests China's economy is slowing faster than official figures show
  • Sterling bounces back after Scotland relieved investors by voting to remain in the UK

Read the full Global Economic Review for September here.


August 2014

This month's headlines:

  • Eurozone economy stalls as Germany's economy contracts and the French economy stagnates
  • Italy enters its third recession and the Japanese economy suffers its worst contraction since 2011
  • Global oil prices fall to lowest level in nine months, despite fears that conflicts would inflate prices

Read the full Global Economic Review for August here.


July 2014

This month's headlines:

  • IMF lowers global growth, but upgrades the UK to be the fastest-growing major western economy 
  • Argentina’s recession could deepen as it defaults on its debt for the eighth time in its history
  • Indonesia’s elected president must make progress on structural reforms to sustain economic growth

Read the full Global Economic Review for July here.


June 2014

This month's headlines:

  • World cup to give Brazil’s economy a boost but will not be enough to halt the slowdown in the BRICs
  • Oil prices beginning to creep up, threatening inflation around the world
  • Sterling continues to rise with the potential to damage UK exports

Read the full Global Economic Review for June here.


May 2014

This month's headlines:

  • Narendra Modi and BJP sweep to power and now must address growing concerns for Indian economy
  • Eurozone still struggling; China performs better than expected; US growth slowest since the end of 2012
  • The BCC/DHL Trade Confidence Index shows that exporters’ confidence is continuing to improve

Read the full Global Economic Review for May here.


April 2014

This month's headlines:

  • Global recovery is underway, but financial market instability and high debt levels are key risks.
  • World trade continues to recover from a lull as global prospects improve.
  • Despite the improvement in net trade, UK current account deficit second widest on record.

Read the full Global Economic Review for April here.


March 2014

This month's headlines:

  • UK trade deficit narrows as exports outside the EU increase, BCC forecasts deficit to narrow further
  • US monetary policy tightening and reforms to credit availability in China key risks to global growth
  • Sterling continues to make strong gains, increasing concerns for UK exporters

Read the full Global Economic Review for March here.

 

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